Kentucky Retirement Systems Insurance Trust Fund Boosts Stake in General Motors (NYSE:GM)

Kentucky Retirement Systems Insurance Trust Fund raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,334 shares of the auto manufacturer’s stock after buying an additional 7,058 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in General Motors were worth $2,149,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Point Inc. lifted its holdings in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after acquiring an additional 193 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after acquiring an additional 205 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after acquiring an additional 213 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of General Motors by 7.9% during the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after acquiring an additional 213 shares during the last quarter. Finally, Holistic Planning LLC raised its position in General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.5 %

Shares of GM opened at $48.14 on Wednesday. The firm’s 50-day moving average price is $50.98 and its 200-day moving average price is $50.14. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.68 and a beta of 1.40. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.13 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Sell-side analysts anticipate that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Wedbush lifted their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $59.71.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.